Diamonds and Dogs


Netflix (NFLX) jumping 13% on earnings as analysts say the company is back on track. Netflix easily beat estimates as sales rose 5.9% to $7.93 billion. The key stat everyone was watching was net new subscribers which grew to 2.41 million compared to prior expectations of a million.

Generac (GNRC) inventories keep piling up. Generac is down 24% as the company lowered growth to 22% to 24% compared with estimates of 36% to 40% growth. The cut amounts to about $560 million in lost sales or almost 11% of Wall Street's $5.2 billion estimate for 2022 Generac's top-line revenue. Earnings before interest, taxes, depreciation, and amortization, or Ebitda, are also taking a hit. Third quarter Ebitda is now expected to be $184 million; Wall Street had been looking for about $309 million. The weakest segment is residential product sales which continue to come under pressure.

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